Untangled Finance raises $13.5m led by Fasanara Capital
UK fintech Untangled Finance has raised $13.5m (£12m) from an equity funding round led by Fasanara Capital.
Untangled focuses on bringing institutional-grade private credit, including invoices and SME loans, onto the blockchain. These structured credit pools are then converted into collateralised debt notes that can be traded by investors.
Fasanara Capital is an alternative credit investor with $4bn in assets under management. It is understood to have allocated funds to several peer-to-peer lending platforms including CrowdProperty and Fund Ourselves.
Read more: P2P backer Fasanara launches $1bn fintech fund
“We see an upcoming merging of worlds, on one side, fintech lending which fills the gap in underserved SME and consumer markets and, on the other, the way values are being transferred within the new world of digital assets,” said Francesco Filia, chief executive and chief investment officer of Fasanara Capital.
“The Untangled team has a rare combination of being rooted in real world finance and yet has acquired deep expertise in blockchain and DeFi. We are looking forward to working with Untangled to engineer these entirely new financial rails so, for the first time, being able to handle users at scale.”
Read more: Credit where it’s due: Exclusive interview with Fasanara’s Daniele Guerini
Untangled’s partnership with Fasanara will give it access to more than 130 asset originators across the world, offering investors the opportunity to access institutional-grade assets that would traditionally be the preserve of large financial institutions.
“Our partnership with Fasanara is a step towards developing reliable DeFi yield mechanisms, broadening the investment possibilities in crypto but also helping to mitigate its inherent volatilities, all while striving to make finance more accessible around the world,” said Manrui Tang, co-founder, Untangled Finance.
Fasanara was the winner of the P2P Institutional Partner of the Year award at last year’s Peer2Peer Finance Awards. This year’s awards are taking place on 12 December 2023. Click here for more information.